Any method of producing a good or service is ________. It ________ the maximum profit that a firm can make
A) an information constraint; always increases
B) a technology; always increases
C) a technology; limits
D) an information constraint; limits
C
Economics
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One result of a minimum wage is
A) illegal hiring of people at wages below the minimum wage. B) more people with jobs. C) a change in the equilibrium wage. D) lower costs paid by firms. E) fewer people searching for work because they realize that firms have decreased the number of people hired.
Economics
Suppose a farmer in Nebraska incurs $8,700 in crop damage from sparks that are created when a local railroad company sends trains along tracks bordering the farm. This damage can be best described as a:
a. negative externality. b. positive externality. c. transaction cost. d. social benefit.
Economics